• Title/Summary/Keyword: empirical ratio

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Comparative Analysis of the Competitiveness of the Steel Distribution Industry in Korea and China (한중간 철강유통산업의 경쟁력 비교분석)

  • Lee, Jae-Sung;Jung, Myung-Hee
    • Journal of Distribution Science
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    • v.12 no.6
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    • pp.21-29
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    • 2014
  • Purpose - This research undertakes to understand the competitiveness of the steel distribution industry of both Korea and China to strengthen Korea-Sino economic cooperation, examines impediments to trade between the two countries to analyze causes which affect trade, and examines improvements in these areas to identify means of trade expansion. Through this survey of a defined period, we can identify the structural factors of trade dependence in the relationship between Korea and China. Research design, data, and methodology - The data were collected from the Korea Traders Association, the Korea Customs Office, and UN Comtrade, from which whole table indexes are calculated. The research methodology uses trade-related indexes to focus on analyzing comparative advantages based on time-series analysis statistics data (2000-2012) by using the analysis index of trade intensity index (TII), the revealed comparative advantage index (RCA), and the trade specialization index (TSI). Results - The export ratio for Korea to China was slightly higher in 2000 at 2.867, and the export ratio for Korea to China was sustained in 2005. However, it diminished gradually, reaching 1.263 in 2012. During the period 2000-2012, the indexes were maintained without any significant change. However, they still remain close to -1. In particular, in 2012 it is the closest it has ever been to -1. Therefore, China has a comparative advantage in export specialization. On the other hand, Korea has a comparative advantage in import specialization. For the research period, all indexes were much lower than 1, which means that Korea has consistently had a comparative disadvantage against China for the past 10 years when compared to other industries, even though it experienced improvement in 2000. Conclusions - The summary of conclusions based on empirical analysis research are as follows: First, per the trade intensity index of industries between the two countries, we conclude that the export ratio index in 2000 is 2.867, which means the export ratio of Korea to China is slightly higher. Furthermore, the ratios of 2.259 and 1.263 held in 2005 and 2012, respectively, meaning that the export ratio of Korea to China was maintained in 2005, but was diminishing gradually as the index in 2012 was 1.263. Second, per the trade specialization index of the steel distribution industry between Korea and China, the value was -0.379 in 2000, -0.368 in 2005 and -0.568 in 2012. Looking at the whole period of 2000-2012, the indexes remained without any significant change. However, they are still moving closer to -1. In particular, in 2012 it is the closest it has ever been to -1. Third, regarding the revealed comparative advantage index of the steel distribution industry between Korea and China, the RCA indexes in 2005 and 2012 are 0.246 and 0.306, respectively, which are still far from 1, even though the index has improved compared to the 2000's value of 0.0001. Therefore, the Korean steel distribution industry is at a significant comparative disadvantage to that of the Chinese steel distribution industry.

Empirical Analysis on the Apportionment System of Causation Ratio in the Ship Collision (선박충돌사고 원인제공비율 산정제도에 대한 실증적 고찰)

  • Kim, Tae-Goun;Hong, Sung-Hwa
    • Journal of Navigation and Port Research
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    • v.37 no.6
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    • pp.603-609
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    • 2013
  • In December 1998, Act on the investigation and inquiry into marine accidents was amended by inserting new Paragraph (2) of Article 4, which states "Where two or more persons are related to the occurrence of a marine accident when the Maritime Safety Tribunal(hereinafter referred to as the "MST") examines the causes of a marine accident as provides for under Paragraph (1), the MST may disclose the extent to which each responsible person is related to the cause of the marine accident". Based on this new Paragraph, the apportionment system of causation ratio in the ship collision was introduced in February 1999. However the apportionment system is adopted 12 years ago, public debate has continued about the positive and negative aspects of the system. Thus some groups advocate the system for the advantages, but other groups argue that this system should be abolished. Therefore, at first, this study analyzes the adopting background and the main reasons of the pros and cons discussion on the apportionment system of causation ratio in the ship collision. Then we conduct a survey analysis to investigate stakeholder's satisfaction of this new system in the ship collision cases. Finally this study suggests the policy proposal to improve the apportionment system of causation ratio in the ship collision.

An Analysis of Movements in the Labor Share of Income in the Korean Manufacturing Industries (한국 제조업에서의 노동소득분배율 변동요인 분석)

  • Hong, Jang-Pyo
    • Korean Journal of Labor Studies
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    • v.19 no.1
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    • pp.1-34
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    • 2013
  • Labor share of income in Korea has fallen from 90% in 1996 to 79% in 2010. This paper explores the factors driving the movements in the labor share of income based on a panel dataset containing 19 years of data on 18 Korean manufacturing industries. The effects of technical progress, globalization and the bargaining power of labor and capital on the labor share of income are tested for the period of 1991-2009. The main empirical results are as follows. (1) Capital-aug menting technical prog ress measured by capital-labor ratio and R&D intensity has a negative effect on the labor share. (2) Market openness measured by the value of export and import as a ratio to value-added production is found to have a positive impact. (3) Globalization of production measured by inward-FDI and outward-FDI as a ratio to total domestic fixed capital is found to have a negative impact on the labor share. (4) Union density is found to have had a statistically significant effect in 1991-1998. This finding is consistent with the efficient bargain model in which firms and workers bargain over both wages and employment. But union density is insignificant in 2000-2009. This implies that since the financial crisis in 1997, the bargaining institution in Korea has been approaching the right-to-manage model in which firms and unions bargain over wages and then firms set employment unilaterally. (5) Variables for domestic financialization measured by dividend-income ratio and financial-fixed assets ratio have an insignificant effect on labor share.

Reliability Updates of Driven Piles Based on Bayesian Theory Using Proof Pile Load Test Results (베이지안 이론을 이용한 타입강관말뚝의 신뢰성 평가)

  • Park, Jae-Hyun;Kim, Dong-Wook;Kwak, Ki-Seok;Chung, Moon-Kyung;Kim, Jun-Young;Chung, Choong-Ki
    • Journal of the Korean Geotechnical Society
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    • v.26 no.7
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    • pp.161-170
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    • 2010
  • For the development of load and resistance factor design, reliability analysis is required to calibrate resistance factors in the framework of reliability theory. The distribution of measured-to-predicted pile resistance ratio was obrained based on only the results of load tests conducted to failure for the assessment of uncertainty regarding pile resistance and used in the conventional reliability analysis. In other words, successful pile load test (piles resisted twice their design loads without failure) results were discarded, and therefore, were not reflected in the reliability analysis. In this paper, a new systematic method based on Bayesian theory is used to update reliability indices of driven steel pipe piles by adding more proof pile load test results, even not conducted to failure, to the prior distribution of pile resistance ratio. Fifty seven static pile load tests performed to failure in Korea were compiled for the construction of prior distribution of pile resistance ratio. The empirical method proposed by Meyerhof is used to calculate the predicted pile resistance. Reliability analyses were performed using the updated distribution of pile resistance ratio. The challenge of this study is that the distribution updates of pile resistance ratio are possible using the load test results even not conducted to failure, and that Bayesian updates are most effective when limited data are available for reliability analysis.

Reservoir Trophic State and Empirical Model Analysis, Based on Nutrients, Transparency, and Chlorophyll-${\alpha}$ Along with Their Relations Among the Parameters (영양염류, 투명도 및 엽록소를 이용한 인공호 영양상태, 경험적 모델 분석 및 변수들 간의 상호관계)

  • An, Kwang-Guk;Kim, Jae-Kyeng;Lee, Sang-Jae
    • Korean Journal of Environmental Biology
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    • v.26 no.3
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    • pp.252-263
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    • 2008
  • The purpose of this study was to determine trophic state, based on nutrients (TN, TP), transparency (SD), and chlorophyll-${\alpha}$ (Chl) and identify their empirical relations of TN-Chl, TP-Chl and Chl-SD depending on the dataset used along with dynamics of conductivity and suspended solids. Analysis of trophic states showed that more than half of 36 reservoirs were judged as eutrophic-hypertrophic conditions depending on the trophic variables. Seasonal values of TP varied by nearly 500% and showed greater in August than any other months. In contrast, TN varied within less than 90% and all monthly mean values of TN were never fall less than 1.2 mg L$^{-1}$ indicating low seasonal variations and high ambient concentrations (eutrophic-hypertrophic state). Analysis of empirical relations in the trophic variables showed that transparency had greater functional relations with Chl (R$^2$=0.31, p<0.001) than TP (R$^2$=0.15, p<0.001) and TN (R$^2$=0.20, p<0.001). Ratios of TN : TP in the ambient water indicated that most reservoirs showed a potential phosphorous limitation on the algal growth. Thus, algal biomass, based on Chl values, was more regulated by phosphorous than nitrogen. Analysis of linear regression model, based on log-transformed annual mean values, showed that only 30% in the variation of Chl was explained by TP (R$^2$=0.295, p=0.001, n=36) and 15% by TN (R$^2$=0.151, p=0.019, n=36). However, linear regression model, based on individual system, showed that Chl-TP model had strong positive relations (R$^2$=0.62, p=0.002, n=12), whereas the model had no any relations (p=0.892, n=12). Overall, our data suggested that averaging effect in the empirical model developments may influence the significance in the statistical analysis.

A Study on Knowledge Entity Extraction Method for Individual Stocks Based on Neural Tensor Network (뉴럴 텐서 네트워크 기반 주식 개별종목 지식개체명 추출 방법에 관한 연구)

  • Yang, Yunseok;Lee, Hyun Jun;Oh, Kyong Joo
    • Journal of Intelligence and Information Systems
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    • v.25 no.2
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    • pp.25-38
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    • 2019
  • Selecting high-quality information that meets the interests and needs of users among the overflowing contents is becoming more important as the generation continues. In the flood of information, efforts to reflect the intention of the user in the search result better are being tried, rather than recognizing the information request as a simple string. Also, large IT companies such as Google and Microsoft focus on developing knowledge-based technologies including search engines which provide users with satisfaction and convenience. Especially, the finance is one of the fields expected to have the usefulness and potential of text data analysis because it's constantly generating new information, and the earlier the information is, the more valuable it is. Automatic knowledge extraction can be effective in areas where information flow is vast, such as financial sector, and new information continues to emerge. However, there are several practical difficulties faced by automatic knowledge extraction. First, there are difficulties in making corpus from different fields with same algorithm, and it is difficult to extract good quality triple. Second, it becomes more difficult to produce labeled text data by people if the extent and scope of knowledge increases and patterns are constantly updated. Third, performance evaluation is difficult due to the characteristics of unsupervised learning. Finally, problem definition for automatic knowledge extraction is not easy because of ambiguous conceptual characteristics of knowledge. So, in order to overcome limits described above and improve the semantic performance of stock-related information searching, this study attempts to extract the knowledge entity by using neural tensor network and evaluate the performance of them. Different from other references, the purpose of this study is to extract knowledge entity which is related to individual stock items. Various but relatively simple data processing methods are applied in the presented model to solve the problems of previous researches and to enhance the effectiveness of the model. From these processes, this study has the following three significances. First, A practical and simple automatic knowledge extraction method that can be applied. Second, the possibility of performance evaluation is presented through simple problem definition. Finally, the expressiveness of the knowledge increased by generating input data on a sentence basis without complex morphological analysis. The results of the empirical analysis and objective performance evaluation method are also presented. The empirical study to confirm the usefulness of the presented model, experts' reports about individual 30 stocks which are top 30 items based on frequency of publication from May 30, 2017 to May 21, 2018 are used. the total number of reports are 5,600, and 3,074 reports, which accounts about 55% of the total, is designated as a training set, and other 45% of reports are designated as a testing set. Before constructing the model, all reports of a training set are classified by stocks, and their entities are extracted using named entity recognition tool which is the KKMA. for each stocks, top 100 entities based on appearance frequency are selected, and become vectorized using one-hot encoding. After that, by using neural tensor network, the same number of score functions as stocks are trained. Thus, if a new entity from a testing set appears, we can try to calculate the score by putting it into every single score function, and the stock of the function with the highest score is predicted as the related item with the entity. To evaluate presented models, we confirm prediction power and determining whether the score functions are well constructed by calculating hit ratio for all reports of testing set. As a result of the empirical study, the presented model shows 69.3% hit accuracy for testing set which consists of 2,526 reports. this hit ratio is meaningfully high despite of some constraints for conducting research. Looking at the prediction performance of the model for each stocks, only 3 stocks, which are LG ELECTRONICS, KiaMtr, and Mando, show extremely low performance than average. this result maybe due to the interference effect with other similar items and generation of new knowledge. In this paper, we propose a methodology to find out key entities or their combinations which are necessary to search related information in accordance with the user's investment intention. Graph data is generated by using only the named entity recognition tool and applied to the neural tensor network without learning corpus or word vectors for the field. From the empirical test, we confirm the effectiveness of the presented model as described above. However, there also exist some limits and things to complement. Representatively, the phenomenon that the model performance is especially bad for only some stocks shows the need for further researches. Finally, through the empirical study, we confirmed that the learning method presented in this study can be used for the purpose of matching the new text information semantically with the related stocks.

Ultimate Resisting Capacity of Axially Loaded Circular Concrete-Filled Steel Tube Columns (축력이 재하된 원형 콘크리트 충전강관 기둥의 최대 저항능력)

  • Kwak, Hyo-Gyoung;Kwak, Ji-Hyun
    • Journal of the Korea Concrete Institute
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    • v.24 no.4
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    • pp.423-433
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    • 2012
  • The axial load on the concrete-filled steel tube (CFT) column produces confinement stress, which enhances strength of the core concrete. The amount of strength increase in concrete depends on the magnitude of produced confinement stress. From nonlinear analyses, the ultimate resisting capacity of the CFT columns subjected to axial loads was calculated. Nonlinear material properties such as Poisson's ratio and stress-strain relation were considered in the suggested model, and the maximum confining stress was obtained by multi axial yield criteria of the steel tube. This proposed model was verified by comparing the analytical results with experimental results. Then, regression analyses were conducted to predict the maximum confining stress according to D/t ratio and material properties without rigorous structural analysis. To ensure the validity of the suggested regression formula, various empirical formulas and Eurocode4 design code were compared.

The Linkage of Foreign Direct Investment, Economic Growth, and Environmental Regulations : Scale Effect and Technique Effect (외국인직접투자, 경제성장, 환경규제의 관계분석 : 규모효과와 기술효과를 중심으로)

  • Kim, KwangUk;Kang, SangMok
    • Environmental and Resource Economics Review
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    • v.18 no.3
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    • pp.523-544
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    • 2009
  • The purpose of this paper is to estimate the impact of foreign direct investment on environmental performance for 27 OECD countries using endogenous environmental policy model. The empirical test shows that with 1% increase in the ratio of inflow stock of foreign direct investment over domestic capital stock, emission on NOx and $CO_2$ will increase by 0.0071%(NOx) and 0.0165%($CO_2$) and 1% increase in the ratio of foreign capital stock induces 0.044%(fixed effect) and 0.047%(random effect) of economic growth. 1% increase of per labor total output increases 2.038%(fixed effect) or 1.890%(random effect) in reinforcement of environmental regulation. However, we could not confirm the Porter's hypothesis that the more strong environmental regulation leads technical innovation. The scale effects (0.0119, 0.0172) are estimated higher than the technical effects (-0.0048, -0.0007) in two pollutants (NOx, $CO_2$). It implies that each country needs to increase pollution abatement and control expenditure more aggressively to protect environment.

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A Study on Settlement Prediction of Concrete-faced Rockfill Dam Using Measured Data During Construction and After Impounding (시공 중 및 담수 후 계측데이터를 이용한 CFRD의 침하량 예측 연구)

  • Lee, Chungwon;Kim, Yongseong
    • Journal of the Korean GEO-environmental Society
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    • v.16 no.2
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    • pp.5-13
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    • 2015
  • In the present study, the prediction methods of the crest settlement after impounding and the maximum internal settlement during dam construction were proposed through the analysis on settlement data at 38 monitored points of 36 Concrete-Faced Rockfill Dams (CFRDs). The results from this analysis provided that the crest settlement and the maximum internal settlement are increased in proportion to the dam height and the void ratio. However, the relationship between internal settlement and dam height for each void-ratio range plotted in semi-logarithmic scale is the nearly same. Also, the prediction of the crest settlement of the CFRD is possible through the maximum internal settlement during dam construction. In addition, it seems that the valley shape highly affects the dense dam body with high construction modulus. The results of this study will provide the useful tool for the design, construction and management of CFRDs.

Estimation of Satellite-based Spatial Evapotranspiration and Validation of Fluxtower Measurements by Eddy Covariance Method (인공위성 데이터 기반의 공간 증발산 산정 및 에디 공분산 기법에 의한 플럭스 타워 자료 검증)

  • Sur, Chan-Yang;Han, Seung-Jae;Lee, Jung-Hoon;Choi, Min-Ha
    • Korean Journal of Remote Sensing
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    • v.28 no.4
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    • pp.435-448
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    • 2012
  • Evapotranspiration (ET) including evaporation from a land surface and transpiration from photosynthesis of vegetation is a sensitive hydrological factor with outer circumstances. Though both direct measurements with an evaporation pan and a lysimeter, and empirical methods using eddy covariance technique and the Bowen ratio have been widely used to observe ET accurately, they have a limitation that the observation can stand for the exact site, not for an area. In this study, remote sensing technique is adopted to compensate the limitation of ground observation using the Moderate Resolution Imaging Spectroradiometer (MODIS) multispectral sensor mounted on Terra satellite. We improved to evapotranspiration model based on remote sensing (Mu et al., 2007) and estimated Penman-Monteith evapotranspiration considering regional characteristics of Korea that was using only MODIS product. We validated evapotranspiration of Sulma (SMK)/Cheongmi (CFK) flux tower observation and calculation. The results showed high correlation coefficient as 0.69 and 0.74.